MR. J. A. SMITH
moved for leave to bring in a Bill for the discharging of claims on the New Zealand Company, by the proceeds of sales of waste lands in that country.
§ SIR JOHN TRELAWNY
said, he should oppose the Bill, which he said was connected with another that was on the paper. The object of the Bill was that this country should guarantee a loan of £500,000 to enable the New Zealand Company to delude the natives by buying land of them at prices which they would not accept if they were a little more instructed. He was not satisfied with the security offered, which was the produce of the taxes in New Zealand; inasmuch as the colonists would be at liberty to refuse taxing themselves.
§ MR. LABOUCHERE
said, he must admit that the subject was one demanding the consideration of the House, but he did not think that this was a proper time to consider the question of guarantee. The Bill to be introduced was an enabling Bill, the guarantee Bill would be introduced as a separate measure by the Government, at a subsequent time. He hoped, therefore, his hon. Friend would be allowed to introduce the Bill, and then, on the second reading of the Bill of his right hon. Friend the Chancellor of the Exchequer, the House could discuss and decide the question.
§ SIR JAMES GRAHAM
suggested that the Bill should be allowed to pass, on the understanding that no further step should be taken until the guarantee Bill was read a second time.
MR. J. A. SMITH
said, he would consent to this proposal as he was prepared to give the most complete assurance that the only object of the Bill was to carry out the provisions of the Government measure.
§ Leave given.
§ Bill for discharging claims of the New Zealand Company on the proceeds of Sales of Waste Lands in New Zealand, ordered to be brought in by Mr. JOHN ABEL SMITH, Mr. MANGLES, and Mr. HUTT.202
§ Bill presented, and read 1°; to be read 2° on Thursday, and printed.